US Edition
Fed Minutes: Most Officials Supported Further Rate Cuts as Worries About Jobs Rose
Fed Governor Stephen Miran advocates for aggressive 50 basis point rate cuts, citing cooling housing inflation and labor market concerns amid divided Fed views on inflation risks.
- The Federal Reserve released minutes on Wednesday from its September 16–17 meeting, revealing most officials supported further interest-rate cuts this year as concerns about rising unemployment grew.
- This decision followed deep divisions among the 19-person committee, with persistent inflation above the 2% target and debate over whether rates remain too high or should be reduced more aggressively.
- Stephen Miran, who had just been confirmed as governor before the meeting, was the sole official to oppose the quarter-point cut, advocating instead for a more substantial half-point reduction. He expressed optimism that inflation would trend down toward the Fed’s target, despite ongoing price pressures.
- Miran argued Tuesday that 'rental costs will bring down inflation,' while Fed policymakers differed, as nine wanted continued quarter-point cuts and seven saw no further reductions needed.
- The shutdown-delayed flow of economic data, combined with policy divisions, suggests future rate decisions may cause increased market volatility and significant debate over the appropriate path.
28 Articles
28 Articles
Daily Bulletin
Fed minutes: Most officials supported further rate cuts as worries about jobs rose
By CHRISTOPHER RUGABER, AP Economics Writer WASHINGTON (AP) — Most members of the Federal Reserve’s interest-rate setting committee supported further reductions to its key interest rate this year, according to minutes from last month’s meeting released Wednesday. A majority of Fed officials felt that the risk unemployment would rise had worsened since their previous meeting in July, while the risk of rising inflation “had either diminished or no…
New Federal Reserve Governor Stephen Miran is trying to bring about change at the central bank, but for now he is a lone wolf. The Fed is divided on how aggressively to cut interest rates, and minutes from their last meeting could give Wall Street more clues about how divided they are. COMMENTARY: Why the Fed Cut Dollar Rates and Will Continue The central bank cut dollar rates for the first time this year last month to help stabilize the falter…
Fed Governor Stephen Miran Predicts Housing Disinflation Ahead
At the September Federal Open Market Committee (FOMC), where interest rates were cut by 25 basis points, newly appointed Federal Reserve Governor Stephen Miran dissented and voted for a larger interest rate cut of 50 points. Miran has since called for further rate cuts. Today, at a moderated interview at the Managed Funds Association’s Policy… The post Fed Governor Stephen Miran Predicts Housing Disinflation Ahead appeared first on RISMedia.
Fed’s Stephen Miran Says He’s ‘Sanguine’ on Inflation Outlook as He Backs More Rate Cuts
Federal Reserve Governor Stephen Miran has again suggested that he isn’t worried about the inflation outlook as he continues his push for more aggressive Fed rate cuts. This comes as other Fed officials raise concerns about inflation, alluding to it as a reason why they may not support further rate cuts this year, although the The post Fed’s Stephen Miran Says He’s ‘Sanguine’ on Inflation Outlook as He Backs More Rate Cuts appeared first on Coin…
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